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Standard Chartered Issues The First Blockchain-Based Letter Of Credit Transaction Using The Yuan
Summary: Standard Chartered, the London-based bank, claims to have delivered the first blockchain-based international letter of credit (LC) transaction using China's national currency, the yuan. According to an announcement from the bank earlier this week, the transaction took place between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel. The deal was carried out over the ...
Standard Chartered, the London-based bank, claims to have delivered the first blockchain-based international letter of credit (LC) transaction using China's national currency, the yuan.
According to an announcement from the bank earlier this week, the transaction took place between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel. The deal was carried out over the blockchain trade finance network Contour."
By Janelle Fox
Tags: Baosteel,Blockchain,China,letter of credit,London,Rio Tinto,Standard Chartered Bank,Yuan
Link: Standard Chartered Issues The First Blockchain-Based Letter Of Credit Transaction Using The Yuan [Copy]
